Everyone now has the possibility of choosing among many options in the market to store their money. In addition to the classic option of having money in a bank account, there are many others, mostly from the Fintech market, which are gaining more and more importance and attracting the attention of both individual clients and entrepreneurs who need online banking for business.
Within this new Fintech trend are the neobanks, which have revolutionized the industry and now offer their clients, among other important products, new, simpler and less expensive ways to store and manage their assets. One of these new innovative financial service providers is Blackcatcard. They allow you to open an IBAN account in Euros fully online in a matter of minutes, which greatly simplifies the process for any user. As an additional benefit, opening the account is free of charge and there are no maintenance fees for individual clients. Thus, with a neobank of this kind, anyone can have money in Euros in a more efficient, reliable and secure account. Of course, a neobank for a business is a great option, as it offers these quality financial services at low cost for companies looking for corporate online banking.
In fact, one of the objectives of these new financial institutions is to compete with traditional banking, reaching or even surpassing their level of security and accessibility. Within European regulation, neobanks can only store their clients’ money, without the right to use it in any way, unlike traditional banks, which can reinvest their depositors’ money in share purchases, credit disbursements, etc., which can put those funds at risk if a bad investment is made.
On the other hand, neobanks, by their nature, can take their online banking beyond the national territory, expanding access to their services. This is the case of Blackcatcard, since they allow practically anyone in the world to open a European IBAN account in Euros and manage their funds as any citizen of the European Union would do. What once seemed crazy is now a reality. A person in Asia, the Middle East or any other region can start saving, sending and receiving Euros, without the need to visit a physical branch of a bank in any EU country.
In fact, the Blackcatcard service is very popular among people with relatives or some kind of business in Europe, as the costs are among the most competitive in the market. It is possible to make up to 5 SEPA transfers totally free per month, and with a low commission of 0.20 Euros per transaction after the sixth one. And if these are transfers between Blackcatcard users, there are no limits or commissions for the number of operations or the amount of money sent. In addition to this, keeping Euros in a Blackcatcard account generates an important return for the client, as he/she can receive 2.2% per annum on the funds in the account.
Therefore to a large extent neobanks have not only made it simpler to store Euros in an account, but have also given users back control over their own assets.
